Let’s start with something obvious: If you’re a business or a brand or anything at all, you need to be on the Internet
The Internet is a place to drive awareness, and this is true no matter who you are. The Internet is the place to create communities, drive people through various funnels, and then get some of them to transact. Do this enough, and you can stay in business. If you have a system in place, then you can rinse-and-repeat, and grow your business.
In a way then, all you have to do is visualize your business funnel via analytics, and optimize the flow of marketing, revenue, and profits.
There was a time when running funnels like this was fairly easy, there just wasn’t that much of an attention-challenged world! These funnel then looked like this, quite simple, really:
At the top of the funnel was the website – only desktop versions were useful back then – and it’s where marketing engaged to drive people from “the Internet” to inside the funnel.
The News Business Funnel
If you think about the online funnel as the representation of your business’ identity as well as its operations, then it becomes clear that managing and optimizing this funnel is the technology support that any business can benefit from. And in order to further maximize the throughput of whatever it is you’re doing, it is important to understand the various parts of the funnel.
The Top of the Funnel
This is where the “everyone” is, and it is the job of the business to get the attention of these folks, so that they might learn enough about it to get interested enough, and spend a little time exploring what the business is about and so on.
The Middle of the Funnel
The mid-funnel is where people who have become interested enough have started to come back, perhaps hang out and explore what else they might be able to learn or do on with your online presence or the services/features you offer. The mid-funnel is where all your “interested” folks hang out, and this is your community. It is the job of the business to create an active mid-funnel, so that eventually, some of these folks will buy from the business. Hopefully, they even become repeat customers, creating a virtuous loop.
The mid funnel, back in the days of simplicity, was powered by simple content – the top and the mid-funnel were essentially the same – there was never anything for anyone to “do”, per se. Just read the content, and move on. On most media sites today, there still isn’t anything much for visitors to do as such. Why would anyone even log in?
The Bottom of the Funnel
This is the part that we all know and love – where regular folks turn into customers! Transactions are needed to create an exchange, liquidity for the business to operate, the very oxygen for survival!
But without understanding the customer journey from the top through the middle and finally to the bottom isn’t always easy. Technology must assist here, if the modern online business is to be successful.
The Internet today
When the Internet first came out, it was meant to be an open platform for collaboration and research and moving the human race forward. Today, it has transformed into a set of closed platforms that essentially are the Internet. For instance, between Facebook and Google (and Twitter and Snap and Instagram and LinkedIn and Messenger and WhatsApp) and Amazon (and the few others trying so very hard – Walmart now and maybe a couple others), what else does one qualify as “the Internet”?
And as far as our Top-of-the-Funnel is concerned, Google/Facebook and the others that have completely replaced the Open Internet, are all that really matter.
Life is much more complicated here, this new funnel is much harder to drive! With all the devices and platforms and new technologies coming out every day – how is an online business to keep up with audience-engagement? How can a publisher/marketer ever be on top of all that’s going on so very rapidly on the modern Internet?
The State of the Ecosystem
The past few years of the “ad-tech” boom (and bust!) had focused all “Innovation” on the money-making side of the business. This was where the giant mess of the ad-tech industry was created – with thousands of players in the middle that siphoned off what little ad-dollars were coming in.
Disrupted Revenue Models
And of course, not to mention that the ad-dollars went from a river to a trickle. So many news rooms have shut down around the world – and will continue to do so. There is a simple reason for this, and it has to do with a somewhat bold statement – most newsrooms believe they’re in the news business.
The Attention Economy
When asked what their business model is, many news publishers like to say content. The fact is, if you’re not getting paid for your content / journalism through subscriptions (or perhaps even donations), then you’re not in the content business. You’re in the attention business, because what you’r actually selling is attention – through advertising.
And those that are selling attention, are directly competing with Facebook and Google.
A losing battle – do not take on the behemoths on their own turf! Do something else – something your users may pay you for. In order to do this, you have to realize deeply that you’re driving a funnel!
PressCoin, Purposeful Activity, and Quintype
PressCoin aims to decentralize news media, and make it more than about “content”. It is a set of interconnected platforms that each address a specific area of the public sphere.
Quintype is a modern publisher technology and developer cloud.
So how does each PressCoin platform fit into the Quintype framework? It is in the very recognition that each is has a specific purpose, and each shall drive its own specific funnel:
Each platform within the PressCoin economy fits within this model. Insurge Intelligence is all about Understanding News, NextElection is all about Engaging with Elections!
Each platform with a focused set of features and functionality, useful to the community at large – for instance, NextElection serves journalists, politicians, citizens, NGOs, bureaucrats, and all the folks in between. A purposeful platform that manages the elections sphere – a digital town hall that tracks elections, and their issues around them, along with “people score” rankings for various entities in the ecosystem.
Abstraction and Technology Accelerants
So Quintype is an enabler, something that raises the level of abstraction dramatically. No longer do publishers/marketers or any other business in the world really, have to deal with low level constructs in building what are clearly well-understood omni-channel Internet applications of today.
There are more amazing abstractions coming from the folks over at Quintype, including a new user-focused Conversations-platform called Metype. The reality is that only raising the levels of abstraction will allow you to manifest at a larger scale. The systems must be designed in bottom-up ways, so that components and services can be recombined and reconfigured to create new things and new experiences. Experimentation must be fast and cheap.
Welcome to a new media ecosystem, powered by PressCoin.